Securities Enforcement | 27
THE
GLOBALIZATION
OF SECURITIES
ENFORCEMENT
Litigators are raising concern over
increased cross-border cooperation powers
for regulators By Sandra Rubin
A RECENT AMENDMENT to the Ontario securities regime that allows
the province's regulator to quietly disclose information across borders is a
troubling development in Canadian securities enforcement, say senior lawyers who work in the area. Anyone involved with a corporation whose shares
trade on the Toronto Stock Exchange should pay attention. A TSX listing
automatically makes them a reporting issuer in Ontario, which means they
are answerable to the Ontario Securities Commission regardless of where the
company is actually headquartered.
LEXPERT®Ranked Lawyers
McKee, Gordon
McKinnon, Kelley M.
Meghji, Al
Mew, Graeme
Millar, W.A. Derry
Miller, QC, David A.
Blake, Cassels &
Graydon LLP
Gowling Lafleur
Henderson LLP
Osler, Hoskin &
Harcourt LLP
Clyde & Co Canada LLP
WeirFoulds LLP
Stewart McKelvey
(416) 863-3884
gordon.mckee@blakes.com
(416) 862-4432
kelley.mckinnon@
gowlings.com
(416) 862-5677
ameghji@osler.com
(647) 789-4801
graeme.mew@clydeco.ca
(416) 947-5021
dmillar@weirfoulds.com
Mr. Mew acts for major
Canadian, American
and British insurers and
reinsurers, including
underwriters at
Lloyd's, on coverage
and defence matters.
Experienced in general
civil and commercial
litigation. He is a
prominent international
mediator & arbitrator.
Mr. Millar practises
exclusively civil
litigation and
administrative law
and has appeared in
all levels of court in
Ontario, the SCC and
the FCC, and many
administrative tribunals.
From 2008–2010 he
was the Treasurer of the
Law Society of Upper
Canada.
(902) 420-3319
dmiller@
stewartmckelvey.com
Mr. McKee focuses on
domestic and multijurisdictional class
actions and product
liability defence. He
has tried class actions,
and regularly defends
leading manufacturers
of pharmaceuticals,
medical devices,
consumer products and
heavy equipment.
Ms. McKinnon, formerly
Deputy Director of
Enforcement and Chief
Litigation Counsel at the
OSC, conducts internal
investigations; litigates
securities class actions,
corporate/commercial
and privacy disputes;
and defends regulatory
proceedings.
Mr. Meghji, also a CA,
practises tax litigation in
various courts, including
the FCA and the SCC.
His clients include
major companies in
the oil & gas, mining,
manufacturing,
financial services and
telecommunications
sectors.
Mr. Miller is a Fellow of
the ACTL. His practice
focuses on commercial
and tort and personal
injury litigation. He
has been counsel in
some of the largest,
most complex and
lengthy litigation in
the province.
